AOL's Revenue Rises on Higher Ad Sales

Online Company's Profit Plunges, However, on Costs Related to Local News Service

By

William Launder

Updated Nov. 5, 2013 12:53 p.m. ET

AOL Inc.'s third-quarter net income fell 90% on restructuring costs and write-downs related largely to its Patch local news operations, but the company reported higher ad revenue as it focused more on online video ads and other more attractively-priced ad formats.

The company took a total of $44 million in impairment charges and restructuring costs that it said were related primarily to Patch, reflecting moves made by AOL in recent months to close or find partners for many of Patch's 900 local sites. AOL Chief Executive...